The Home Depot Announces Second Quarter Fiscal 2024 Results; Updates Fiscal 2024 Guidance

CNW Group08-13

ATLANTA, Aug. 13, 2024 /CNW/ -- The Home Depot®, the world's largest home improvement retailer, today reported sales of $43.2 billion for the second quarter of fiscal 2024, an increase of 0.6% from ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Home Depot Announces Second Quarter Fiscal 2024 Results; Updates Fiscal 2024 Guidance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-13 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/home-depot-announces-second-quarter-100000320.html><strong>CNW Group</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ATLANTA, Aug. 13, 2024 /CNW/ -- The Home Depot®, the world's largest home improvement retailer, today reported sales of $43.2 billion for the second quarter of fiscal 2024, an increase of 0.6% from ...</p>\n\n<a href=\"https://finance.yahoo.com/news/home-depot-announces-second-quarter-100000320.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1929549753.HKD","symbol_name":"FRANKLIN INCOME \"A\" (HKD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/home-depot-announces-second-quarter-100000320.html","article_id":"2459927743","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/kvb8ckpy47qOgm_.5HMA1Q--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/cnwgroup.com/6d86ee3880c659677a59471f0a4ea18b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2459927743","pubTimestamp":1723543200,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"ATLANTA, Aug. 13, 2024 /CNW/ --The Home Depot, the world's largest home improvement retailer, today reported sales of $43.2 billion for the second quarter of fiscal 2024, an increase of 0.6% from the second quarter of fiscal 2023. Total sales include $1.3 billion from the recent acquisition of SRS Distribution Inc. , which represents approximately six weeks of sales in the quarter. Comparable sales for the second quarter of fiscal 2024 decreased 3.3%, and comparable sales in the U.S. decreased 3.6%.Operating income for the second quarter of fiscal 2024 was $6.5 billion and operating margin was 15.1%, compared with operating income of $6.6 billion and an operating margin of 15.4% for the second quarter of fiscal 2023.Adjusted operating income for the second quarter of fiscal 2024 was $6.6 billion and adjusted operating margin was 15.3%, compared with adjusted operating income of $6.6 billion and an adjusted operating margin of 15.5% for the second quarter of fiscal 2023.Adjusted diluted","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1929549753.HKD":"FRANKLIN INCOME \"A\" (HKD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4534":"瑞士信贷持仓","BK4566":"资本集团","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU0823411888.USD":"法巴消费创新基金 Cap","LU0079474960.USD":"联博美国增长基金A","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","BK4550":"红杉资本持仓","BK4588":"碎股","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4083":"家庭装潢零售","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4581":"高盛持仓","BK4504":"桥水持仓","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","SRS":"两倍做空房地产ETF-ProShares","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","HD":"家得宝","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","SG9999001440.SGD":"United Global Dividend Equity Fund A SGD Dist","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC"},"translate_title":"家得宝公布2024财年第二季度业绩；更新2024财年指引","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SRS":1,"HD":1},"content_text":"ATLANTA, Aug. 13, 2024 /CNW/ -- The Home Depot®, the world's largest home improvement retailer, today reported sales of $43.2 billion for the second quarter of fiscal 2024, an increase of 0.6% from the second quarter of fiscal 2023. Total sales include $1.3 billion from the recent acquisition of SRS Distribution Inc. (SRS), which represents approximately six weeks of sales in the quarter. Comparable sales for the second quarter of fiscal 2024 decreased 3.3%, and comparable sales in the U.S. decreased 3.6%. \n\n  \n\nOperating income for the second quarter of fiscal 2024 was $6.5 billion and operating margin was 15.1%, compared with operating income of $6.6 billion and an operating margin of 15.4% for the second quarter of fiscal 2023.\nAdjusted(1) operating income for the second quarter of fiscal 2024 was $6.6 billion and adjusted(1) operating margin was 15.3%, compared with adjusted operating income of $6.6 billion and an adjusted operating margin of 15.5% for the second quarter of fiscal 2023.\nNet earnings for the second quarter of fiscal 2024 were $4.6 billion, or $4.60 per diluted share, compared with net earnings of $4.7 billion, or $4.65 per diluted share, in the same period of fiscal 2023.\nAdjusted(1) diluted earnings per share for the second quarter of fiscal 2024 were $4.67, compared with adjusted diluted earnings per share of $4.68 in the same period of fiscal 2023.\n\"The underlying long-term fundamentals supporting home improvement demand are strong,\" said Ted Decker, chair, president and CEO. \"During the quarter, higher interest rates and greater macro-economic uncertainty pressured consumer demand more broadly, resulting in weaker spend across home improvement projects. However, the team continued to navigate this unique environment while executing at a high level. I would like to thank our associates for their hard work and dedication to serving our customers and communities.\"\nFiscal 2024 Guidance\nThe company updated its fiscal 2024 guidance, which includes 53 weeks of operating results, to reflect the performance in the first half of fiscal 2024 and include SRS:\n\nTotal sales to increase between 2.5% and 3.5% including the 53rd week\n   \n53rd week projected to add approximately $2.3 billion to total sales\nSRS expected to contribute approximately $6.4 billion in incremental sales\n\nComparable sales to decline between 3% and 4% for the 52-week period compared to fiscal 2023\n   \nComparable sales decline of 3% implies a consumer demand environment consistent with the first half of fiscal 2024\nWhile comparable sales for the company are not currently on the trajectory for the low end of the range, a 4% decline implies incremental pressure on consumer demand\n\nApproximately 12 new stores\nGross margin of approximately 33.5%\nOperating margin rate to be between 13.5% to 13.6%\nAdjusted(1), (2) operating margin rate to be between 13.8% to 13.9%\nTax rate of approximately 24%\nNet interest expense of approximately $2.2 billion\n53-week diluted earnings-per-share-percent decline between 2% and 4%\n   \n53rd week expected to contribute approximately $0.30 of diluted earnings per share compared to fiscal 2023\n\n53-week adjusted(1), (3) diluted earnings-per-share to decline between 1% and 3%\n   \n53rd week expected to contribute approximately $0.30 of adjusted diluted earnings per share compared to fiscal 2023\n\n\nThe Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at ir.homedepot.com/events-and-presentations.\nAt the end of the second quarter, the company operated a total of 2,340 retail stores and over 760 branches across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 465,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.\n\n\n\n\n(1) \nThe Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). As used above and throughout this earnings release, adjusted operating income, adjusted operating margin, and adjusted diluted earnings per share are non-GAAP financial measures. Refer to the end of this release for an explanation of these non-GAAP financial measures and a reconciliation of the historical non-GAAP financial results used in this release to comparable GAAP results. \n\n\n(2) \nExcludes an expected approximately 30 basis point impact from acquired intangible asset amortization. \n\n\n(3) \nExcludes an expected after-tax impact of approximately $0.30 from acquired intangible asset amortization.  \n\n\n\n\nCautionary Note Regarding Forward-Looking StatementsCertain statements contained herein constitute \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the demand for our products and services, including as a result of macroeconomic conditions; net sales growth; comparable sales; the effects of competition; our brand and reputation; implementation of interconnected retail, store, supply chain and technology initiatives; inventory and in-stock positions; the state of the economy; the state of the housing and home improvement markets; the state of the credit markets, including mortgages, home equity loans, and consumer credit; the impact of tariffs; issues related to the payment methods we accept; demand for credit offerings; management of relationships with our associates, potential associates, suppliers and service providers; cost and availability of labor; costs of fuel and other energy sources; events that could disrupt our business, supply chain, technology infrastructure, or demand for our products and services, such as international trade disputes, natural disasters, climate change, public health issues, cybersecurity events, labor disputes, geopolitical conflicts, military conflicts, or acts of war; our ability to maintain a safe and secure store environment; our ability to address expectations regarding environmental, social and governance matters and meet related goals; continuation or suspension of share repurchases; net earnings performance; earnings per share; future dividends; capital allocation and expenditures; liquidity; return on invested capital; expense leverage; changes in interest rates; changes in foreign currency exchange rates; commodity or other price inflation and deflation; our ability to issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries, claims, and litigation, including compliance with related settlements; the challenges of operating in international markets; the adequacy of insurance coverage; the effect of accounting charges; the effect of adopting certain accounting standards; the impact of legal and regulatory changes, including changes to tax laws and regulations; store openings and closures; guidance for fiscal 2024 and beyond; financial outlook; and the impact of acquired companies, including SRS, on our organization and the ability to recognize the anticipated benefits of any acquisitions.\nForward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. These risks and uncertainties include, but are not limited to, those described in Part I, Item 1A. \"Risk Factors,\" and elsewhere in our Annual Report on Form 10-K for our fiscal year ended January 28, 2024 and also as may be described from time to time in future reports we file with the Securities and Exchange Commission. There also may be other factors that we cannot anticipate or that are not described herein, generally because we do not currently perceive them to be material. Such factors could cause results to differ materially from our expectations. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission and in our other public statements.\nNon-GAAP Financial MeasuresThese statements are also supplemented with certain non-GAAP financial measures. When used in conjunction with our GAAP financial measures, we believe these supplemental non-GAAP financial measures will help management and investors to better understand and analyze our performance. However, this supplemental information should not be considered in isolation or as a substitute for the related GAAP measures. Refer to the end of this release for an explanation and definitions of these non-GAAP financial measures and a reconciliation of the historical non-GAAP financial results used in this release to comparable GAAP results.\n\n\n\n\nTHE HOME DEPOT, INC. \n\n\nCONDENSED CONSOLIDATED STATEMENTS OF EARNINGS \n\n\n(Unaudited) \n\n\n\n\n\n\nThree Months Ended \n\n\n\nSix Months Ended \n\n\n\n\nin millions, except per share data \nJuly 28,2024 \n\nJuly 30,2023 \n\n% Change \n\nJuly 28,2024 \n\nJuly 30,2023 \n\n% Change \n\n\nNet sales \n$   43,175 \n\n$   42,916 \n\n0.6 % \n\n$   79,593 \n\n$   80,173 \n\n(0.7) % \n\n\nCost of sales \n28,759 \n\n28,759 \n\n— \n\n52,744 \n\n53,459 \n\n(1.3) \n\n\n   Gross profit \n14,416 \n\n14,157 \n\n1.8 \n\n26,849 \n\n26,714 \n\n0.5 \n\n\nOperating expenses: \n\n\n\n\n\n\n\n\n\n\n\n\n\nSelling, general and administrative \n7,144 \n\n6,915 \n\n3.3 \n\n13,811 \n\n13,270 \n\n4.1 \n\n\nDepreciation and amortization \n738 \n\n653 \n\n13.0 \n\n1,425 \n\n1,304 \n\n9.3 \n\n\n   Total operating expenses \n7,882 \n\n7,568 \n\n4.1 \n\n15,236 \n\n14,574 \n\n4.5 \n\n\nOperating income \n6,534 \n\n6,589 \n\n(0.8) \n\n11,613 \n\n12,140 \n\n(4.3) \n\n\nInterest and other (income) expense: \n\n\n\n\n\n\n\n\n\n\n\n\n\nInterest income and other, net \n(84) \n\n(41) \n\nN/M \n\n(141) \n\n(74) \n\n90.5 \n\n\nInterest expense \n573 \n\n469 \n\n22.2 \n\n1,058 \n\n943 \n\n12.2 \n\n\n   Interest and other, net \n489 \n\n428 \n\n14.3 \n\n917 \n\n869 \n\n5.5 \n\n\nEarnings before provision for income taxes \n6,045 \n\n6,161 \n\n(1.9) \n\n10,696 \n\n11,271 \n\n(5.1) \n\n\nProvision for income taxes \n1,484 \n\n1,502 \n\n(1.2) \n\n2,535 \n\n2,739 \n\n(7.4) \n\n\nNet earnings \n$     4,561 \n\n$     4,659 \n\n(2.1) % \n\n$     8,161 \n\n$     8,532 \n\n(4.3) % \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic weighted average common shares \n990 \n\n1,000 \n\n(1.0) % \n\n989 \n\n1,005 \n\n(1.6) % \n\n\nBasic earnings per share \n$       4.61 \n\n$       4.66 \n\n(1.1) \n\n$       8.25 \n\n$       8.49 \n\n(2.8) \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDiluted weighted average common shares \n992 \n\n1,003 \n\n(1.1) % \n\n992 \n\n1,008 \n\n(1.6) % \n\n\nDiluted earnings per share \n$       4.60 \n\n$       4.65 \n\n(1.1) \n\n$       8.23 \n\n$       8.46 \n\n(2.7) \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThree Months Ended \n\n\n\nSix Months Ended \n\n\n\n\nSelected Sales Data (1) \nJuly 28,2024 \n\nJuly 30,2023 \n\n% Change \n\nJuly 28,2024 \n\nJuly 30,2023 \n\n% Change \n\n\nCustomer transactions (in millions) \n451.0 \n\n459.1 \n\n(1.8) % \n\n837.8 \n\n850.1 \n\n(1.4) % \n\n\nAverage ticket  \n$     88.90 \n\n$     90.07 \n\n(1.3) \n\n$     89.72 \n\n$     90.92 \n\n(1.3) \n\n\nSales per retail square foot \n$   660.17 \n\n$   684.65 \n\n(3.6) \n\n$   616.17 \n\n$   638.50 \n\n(3.5) \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(1) \nSelected Sales Data does not include results for HD Supply or SRS. At this time, we are still evaluating whether SRS results will be incorporated into our selected sales metrics. \n\n\n\n\n\n\n\n\nTHE HOME DEPOT, INC. \n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS \n\n\n(Unaudited) \n\n\n\n\n\nin millions \nJuly 28,2024 \n\nJuly 30,2023 \n\nJanuary 28,2024 \n\n\nAssets \n\n\n\n\n\n\n\nCurrent assets: \n\n\n\n\n\n\n\nCash and cash equivalents \n$           1,613 \n\n$           2,814 \n\n$           3,760 \n\n\nReceivables, net \n5,503 \n\n3,836 \n\n3,328 \n\n\nMerchandise inventories \n23,060 \n\n23,265 \n\n20,976 \n\n\nOther current assets \n2,097 \n\n1,915 \n\n1,711 \n\n\nTotal current assets \n32,273 \n\n31,830 \n\n29,775 \n\n\nNet property and equipment \n26,640 \n\n25,879 \n\n26,154 \n\n\nOperating lease right-of-use assets \n8,613 \n\n7,139 \n\n7,884 \n\n\nGoodwill \n19,414 \n\n7,664 \n\n8,455 \n\n\nIntangible assets, net \n9,214 \n\n3,235 \n\n3,606 \n\n\nOther assets \n692 \n\n640 \n\n656 \n\n\nTotal assets \n$         96,846 \n\n$         76,387 \n\n$         76,530 \n\n\n\n\n\n\n\n\n\n\nLiabilities and Stockholders' Equity \n\n\n\n\n\n\n\nCurrent liabilities: \n\n\n\n\n\n\n\nShort-term debt \n$           2,527 \n\n$                — \n\n$                — \n\n\nAccounts payable \n13,206 \n\n12,104 \n\n10,037 \n\n\nAccrued salaries and related expenses \n2,105 \n\n2,022 \n\n2,096 \n\n\nCurrent installments of long-term debt \n1,339 \n\n1,352 \n\n1,368 \n\n\nCurrent operating lease liabilities \n1,242 \n\n1,011 \n\n1,050 \n\n\nOther current liabilities \n7,704 \n\n7,738 \n\n7,464 \n\n\nTotal current liabilities \n28,123 \n\n24,227 \n\n22,015 \n\n\nLong-term debt, excluding current installments \n51,869 \n\n40,754 \n\n42,743 \n\n\nLong-term operating lease liabilities \n7,635 \n\n6,376 \n\n7,082 \n\n\nOther long-term liabilities \n4,799 \n\n3,695 \n\n3,646 \n\n\nTotal liabilities \n92,426 \n\n75,052 \n\n75,486 \n\n\nTotal stockholders' equity  \n4,420 \n\n1,335 \n\n1,044 \n\n\nTotal liabilities and stockholders' equity \n$         96,846 \n\n$         76,387 \n\n$         76,530 \n\n\n\n\n\n\n\n\nTHE HOME DEPOT, INC. \n\n\nCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS \n\n\n(Unaudited) \n\n\n\n\n\n\nSix Months Ended \n\n\nin millions \nJuly 28,2024 \n\nJuly 30,2023 \n\n\nCash Flows from Operating Activities: \n\n\n\n\n\nNet earnings \n$           8,161 \n\n$           8,532 \n\n\nReconciliation of net earnings to net cash provided by operating activities: \n\n\n\n\n\nDepreciation and amortization, excluding amortization of intangible assets \n1,615 \n\n1,500 \n\n\nIntangible asset amortization \n142 \n\n88 \n\n\nStock-based compensation expense \n222 \n\n215 \n\n\nChanges in working capital \n667 \n\n1,774 \n\n\nChanges in deferred income taxes \n159 \n\n(48) \n\n\nOther operating activities \n(60) \n\n144 \n\n\n  Net cash provided by operating activities \n10,906 \n\n12,205 \n\n\n\n\n\n\n\n\nCash Flows from Investing Activities: \n\n\n\n\n\nCapital expenditures \n(1,566) \n\n(1,697) \n\n\nPayments for businesses acquired, net \n(17,570) \n\n(215) \n\n\nOther investing activities \n38 \n\n10 \n\n\nNet cash used in investing activities \n(19,098) \n\n(1,902) \n\n\n\n\n\n\n\n\nCash Flows from Financing Activities: \n\n\n\n\n\nProceeds from short-term debt, net \n2,527 \n\n— \n\n\nProceeds from long-term debt, net of discounts \n9,952 \n\n— \n\n\nRepayments of long-term debt \n(1,255) \n\n(1,130) \n\n\nRepurchases of common stock \n(649) \n\n(4,954) \n\n\nProceeds from sales of common stock \n210 \n\n175 \n\n\nCash dividends \n(4,460) \n\n(4,215) \n\n\nOther financing activities \n(212) \n\n(142) \n\n\nNet cash provided by (used in) financing activities \n6,113 \n\n(10,266) \n\n\nChange in cash and cash equivalents \n(2,079) \n\n37 \n\n\nEffect of exchange rate changes on cash and cash equivalents \n(68) \n\n20 \n\n\nCash and cash equivalents at beginning of period \n3,760 \n\n2,757 \n\n\nCash and cash equivalents at end of period \n$           1,613 \n\n$           2,814 \n\n\n\n\nNON-GAAP FINANCIAL MEASURES\nAdjusted operating income, adjusted operating margin (calculated as adjusted operating income divided by total net sales), and adjusted diluted earnings per share are presented as supplemental financial measures in the evaluation of our business that are not required by or presented in accordance with GAAP. The Company excludes the impact of amortization expense from acquired intangible assets from adjusted operating income and adjusted operating margin, and the impact of amortization expense from acquired intangible assets, including the related tax effects, from adjusted diluted earnings per share. We do not adjust for the revenue that is generated in part from the use of our acquired intangible assets. Amortization expense, unlike the related revenue, is not affected by operations in any particular period unless an intangible asset becomes impaired, or the useful life of an intangible asset is revised.\nWhen used in conjunction with our GAAP results, we believe these non-GAAP measures provide investors with meaningful supplemental measures of our performance period to period, make it easier for investors to compare our underlying business performance to peers, and align to how management analyzes trends and evaluates performance internally. The Company provides historical non-GAAP financial information on this basis to facilitate comparability when we report earnings results. These non-GAAP measures should not be a substitute for their comparable GAAP financial measures. Investors should rely primarily on our GAAP results and use non-GAAP financial measures only supplementally in making investment decisions. Our calculation of non-GAAP measures may not be comparable to similarly titled measures reported by other companies and other companies may not define these non-GAAP financial measures in the same way, which may limit their usefulness as comparative measures.\n\n\n\n\nRECONCILIATION OF ADJUSTED OPERATING INCOME AND ADJUSTED OPERATING MARGIN \n\n\n\n\n\n\nThree Months Ended \n\n\n\nSix Months Ended \n\n\n\n\nUSD in millions \nJuly 28, 2024 \n\nJuly 30, 2023 \n\n% Change \n\nJuly 28, 2024 \n\nJuly 30, 2023 \n\n% Change \n\n\nOperating income (GAAP) \n$ 6,534 \n\n$ 6,589 \n\n(0.8) % \n\n$ 11,613 \n\n$ 12,140 \n\n(4.3) % \n\n\nOperating margin (1) \n15.1 % \n\n15.4 % \n\n\n\n14.6 % \n\n15.1 % \n\n\n\n\nAcquired intangible asset amortization (2) \n90 \n\n44 \n\n\n\n142 \n\n88 \n\n\n\n\nAdjusted operating income (Non-GAAP) \n$ 6,624 \n\n$ 6,633 \n\n(0.1) % \n\n$ 11,755 \n\n$ 12,228 \n\n(3.9) % \n\n\nAdjusted operating margin (Non-GAAP) (3) \n15.3 % \n\n15.5 % \n\n\n\n14.8 % \n\n15.3 % \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(1) \nOperating margin is calculated as operating income divided by total net sales. \n\n\n(2) \nAmounts include acquired intangible asset amortization related to the SRS acquisition of $39 million during the three and  six months ended July 28, 2024. \n\n\n(3) \nAdjusted operating margin is calculated as adjusted operating income divided by total net sales.  \n\n\n\n\n\n\n\n\nRECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE \n\n\n\n\n\n\nThree Months Ended \n\n\n\nSix Months Ended \n\n\n\n\nper share amounts \nJuly 28, 2024 \n\nJuly 30, 2023 \n\n% Change \n\nJuly 28, 2024 \n\nJuly 30, 2023 \n\n% Change \n\n\nDiluted earnings per share (GAAP) \n$      4.60 \n\n$      4.65 \n\n(1.1) % \n\n$      8.23 \n\n$      8.46 \n\n(2.7) % \n\n\nImpact of acquired intangible asset amortization \n0.09 \n\n0.04 \n\n\n\n0.14 \n\n0.09 \n\n\n\n\nIncome tax impact of non-GAAP adjustment (4) \n(0.02) \n\n(0.01) \n\n\n\n(0.03) \n\n(0.02) \n\n\n\n\nAdjusted diluted earnings per share (Non-GAAP) \n$      4.67 \n\n$      4.68 \n\n(0.2) % \n\n$      8.34 \n\n$      8.53 \n\n(2.2) % \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n(4) \nCalculated as the per share impact of acquired intangible asset amortization multiplied by the Company's effective tax rate for the period. \n\n\n\n\n View original content to download multimedia:https://www.prnewswire.com/news-releases/the-home-depot-announces-second-quarter-fiscal-2024-results-updates-fiscal-2024-guidance-302220462.html\nSOURCE The Home Depot\n View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2024/13/c4713.html","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2459927743"}